(21 NOVEMBER 2017)EUR / USD:Bearish consolidation

(21 NOVEMBER 2017)EUR / USD:Bearish consolidation

21 November 2017, 12:38
Jiming Huang
0
19

eur


Bearish consolidation.

(By Yann Quelenn)

• EUR/USD is consolidating. Hourly resistance is

located at 1.1878 (12/10/2017 high). Hourly

support is given at a distance at 1.1554

(07/11/2017 low). Expected to show continued

short-term consolidation before heading higher

towards resistance at 1.1878 ( 12/10/2017 high).

• In the longer term, the momentum is now

turning largely positive. We favour a continued

bullish bias. Key resistance is holding at 1.2252

(25/12/2014 high) while strong support lies at

1.0341 (03/01/2017 low).


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